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Home Anti-Corruption Presidency Asks HSBC to Return Abacha’s Loots
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Presidency Asks HSBC to Return Abacha’s Loots

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Prnigeria
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September 16, 2018
President Muhammad Buhari
President Muhammad Buhari

Presidency Asks HSBC to Return Abacha’s Loots

The Presidency on Saturday challenged a multinational banking and financial services company, HSBC, to return the stolen funds it allegedly helped the late Head of State, Sani Abacha; a serving senator and other Nigerians to launder.

It said instead of engaging in doomsday prophecy, the financial institution should return Nigeria’s stolen assets.

A statement by the Special Senior Assistant to President Muhammadu Buhari on Media and Publicity, Garba Shehu, stated that HSBC allegedly laundered over $100m for the late Abacha in Jersey, Paris, London and Geneva.

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Shehu’s statement was in response to reports by The Economist Intelligence Unit, the research unit of The Economist and HSBC.

The Economist had in the report by the EIU predicted that the Peoples Democratic Party (PDP) would win the 2019 presidential election.

The prediction also stated that if Buhari wins second term, the development would stunt the country’s economy.

But Shehu, said on Saturday that “the unbridled looting of state resources by leaders” “killed Nigeria’s economy in the past.”

The presidency said a bank that allegedly soiled its hand with huge amount of funds stolen from Nigeria by Abacha and others and yet to be recovered lacked the moral right to predict an economic doom under Buhari’s second term.

By PRNigeria

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Troops Intercept 700 Bags of Fertilizer, Drugs Meant for Terrorists in YobeArmy Condemns Soldier to Death by Hanging for Killing Tricycle RiderCourt Dismisses Suit Seeking to Bar ICPC from Probing Bauchi Security VotesNDLEA Hands Over Intercepted 60 Cartons of Pregabalin to NAFDAC in KanoImo Police Raid IPOB/ESN Hideout, Arrest 18 Suspects, Recover ArmsKano’s Corruption Storm: A Test of Media Ethics and Public Relations By Umar BabangidaTroops Raid Illegal Arms Factory in Plateau, Arrest Suspect, Recover WeaponsSowore vs DSS: Free Speech or Defamation? By Mohammed Bego AbdullahiNAF Air Strikes Kill Scores of Terrorists, Destroy Enclaves in BornoFG, States, LGs Share N2.225trn Revenue for August – FAACICPC Secures Six-Year Jail Term for Sokoto River Basin DirectorNAHCON Boss Meets Katsina Governor, Pushes for Early 2026 Hajj Payments, Promises Easier ExerciseKaduna Police Arrest Two Suspects Over Illegal Possession of FirearmsTinubu Lifts State of Emergency in Rivers, Reinstates Fubara, LegislatorsBadaru Joins Global Leaders at Beijing Forum on Peace, Security
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